Sam Amico
In one of the largest restaurant chain acquisitions in history, Subway has been acquired by private equity firm Roark Capital, a family-run business of nearly 60 years.
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The price? Try a cool $8.95 billion, according to Reuters.
Some will tell you Subway has gone down the tubes lately. But when a company sinks this much cash into it … well, perhaps it will be back on the rise. Roark has a number of other food chains in its portfolio, so the experience is definitely there.
Among the group owned by Roark: Arby’s, Auntie Anne’s, Buffalo Wild Wings and Sonic. And now Subway, too.
Per USA Today:
According to CNN, the acquisition by Roark is a significant event in the fast food industry. The company boasts a $37 billion asset value and an extensive food portfolio, with investments in various brands such as Arby’s, Auntie Anne’s, Buffalo Wild Wings, Carvel, Sonic, and many others.
Subway says it will continue to prioritize sales growth, menu innovation, restaurant modernization, enhancing the guest experience, and global expansion.
Subway has recently lost market share due to rising competition, some of which offer more menu options and modern store designs.
USA Today
So it seems that changes will indeed by on the way at Subway. And some will say it’s about time.
